EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: AMBA, COO, DG, FNSR, IDT, MEI, RY, TD, ULTA Friday: AEO, BIG, BNS, CTB These are just a few of the companies reporting today and tomorrow. Please check earnings dates for any stocks you own. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List: SCHW - Triggered our Initial Re-entry Price by testing the rising 20 day EMA at 24.30 HAS - Reversing off intraday lows for the second consecutive session. MCK - Testing its 20 day EMA, but with a long-term negative divergence in play, we could see more weakness down to the 50 day SMA - especially if the overall market weakens further. NSC - Was in breakout territory earlier on solid volume, but overall market is not helping here. A strong finish would be bullish. TIF - Added to Goldman Sachs Conviction Buy List, with the positive reaction and breakout you might expect. Good action. VMC - Just below price support at 55.00 and resting almost squarely on its rising 50 day SMA. Needs to reverse soon. WSM - With recent weakness, now less than a dollar from our Second Entry at the rising 20 day EMA. Mid Cap Watch List: DWRE - Doing exactly what was discussed yesterday - breaking above 58.00 short-term resistance with increasing volume. Up more than 5% on a down day - very nice action. GPN - Testing its rising 20 day EMA for the first time since it gapped higher with its earnings report. AWAY - Indicated yesterday's close was important given the volume. Well, it closed six pennies above the breakout level and has exploded further today, essentially reaching our Target Price of 41.00 (intraday high was 40.85). GREAT TRADE!!! Will post new trading strategy tonight, but First Re-entry would be the rising 20 day EMA. LXK - Having a rough day and again testing recent price lows. In my view, it still remains in a potential bullish cup pattern. LOCK - Continues to hover near its rising 20 day EMA. NTCT - Ditto LOCK. OPEN - Ditto LOCK. RAD - Down on big volume, but testing its rising 20 day EMA in an otherwise very bullish chart pattern. Small Cap Watch List: BLDR - So far the buyers remain at gap support, but we will keep our 6.50 closing stop in play. MMSI - Very light volume, but continuing to find nice support in the 15.40-15.50 zone. NTRI - Consolidating within a flag formation. This remains a very bullish pattern. TASR - Bouncing from the 15.75-16.25 support zone. Could use more volume - it's just moderate today. DELETIONS FROM OUR WATCH LISTS: There are no deletions today. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com